Argyle Town Council unanimously tabled the approval of a Municipal Development District grant of up to $300,000 for the project at the Sept. 15 meeting so that town staff could discuss the project further with the developer and property owner, Colo Development Partners.
The overview
The proposed project, titled Argyle Market Place, will include three newly constructed retail buildings totaling approximately 23,000 square feet, according to town documents.
Parking spaces will be included for retail, tenants and visitors of the Argyle Nature Trail, which is located on the adjacent property.
The development will have pedestrian pathways leading into the park from the retail center and include upgraded electrical service that will support park functions and community events, including the monthly farmers market.
The retail is anticipated to bring in a sales tax revenue of $280,000 annually and the project is expected to cost a total of $9.6 million to complete, per town documents.
Town staff will bring the item back for the Oct. 20 meeting, Town Manager Mike Sims said.
In similar news
Argyle officials are seeking a $200,000 reimbursement grant to help the town fund construction of the Argyle Nature Trail located on Cook Street.
Argyle Nature Trail will be a quarter-mile loop paved with concrete on the interior of the pathway and a brick-paved path leading into the trail, Director of Community Development Harrison Wicks said. The trail is anticipated to bring visitors to local businesses along US 377 and FM 407, according to the grant application. It will comprise 4.6 acres of Cross Timbers forest and could include future programming such as field trips, hikes and nature classes.
Council approved the grant application at the Sept. 15 meeting, and town staff will take the application to the Denton County Development District No. 4, a government entity wanting to enhance economic activity in the district, to request the grant, Wicks said. Argyle Nature Trail is expected to cost the town a total of $457,759 if lighting is included on the trail, according to town documents. If lights are not included, the cost would decrease to $310,659.
“If we get the grant, good news, we get to have the lighting,” Sims said. “If we don’t get the grant then you’re going to remove the $147,100 in lighting.”
These costs are based on recommendations from the parks committee and a feasibility study conducted by Westwood Engineering, according to town documents. The funds would go toward clearing vegetation, grading, trail construction, landscape plantings and signage.
“Westwood has done a really close look to try to avoid as many healthy trees as possible [when constructing the trail],” Wicks said. “Some of the alignment is going to be adjusted to move around some trees that we want to preserve specifically.”
Looking ahead
Town staff will request the Argyle Nature Trail grant at the Denton County Development District No. 4 meeting Oct. 6, Wicks said.
Town staff is aiming to start construction in January or February and finish in fall 2026, according to town documents.
